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\begin{tabular}{lccccc} \hline
 & (1) & (2) & (3) & (4) & (5) \\
VARIABLES &  &  &  &  &  \\ \hline
 &  &  &  &  &  \\
IG & 0.1660*** & 0.1647*** & 0.1784*** & 0.1684*** & 0.1701*** \\
 & (0.0042) & (0.0041) & (0.0072) & (0.0062) & (0.0077) \\
DiffAlphaRankExt &  &  &  & -0.0000** &  \\
 &  &  &  & (0.0000) &  \\
SEX &  & 0.0121*** & 0.0121*** & 0.0121*** & 0.0305*** \\
 &  & (0.0016) & (0.0016) & (0.0016) & (0.0087) \\
FEMALE &  & -0.0082*** & -0.0081*** & -0.0081*** & -0.0153* \\
 &  & (0.0017) & (0.0017) & (0.0017) & (0.0093) \\
NAT1 &  & -0.0002 & -0.0001 & 0.0004 & 0.0417 \\
 &  & (0.0060) & (0.0060) & (0.0060) & (0.0379) \\
ADM &  & 0.0049*** & 0.0049*** & 0.0049*** & 0.0071 \\
 &  & (0.0013) & (0.0013) & (0.0013) & (0.0071) \\
ADPR &  & 0.0133*** & 0.0132*** & 0.0131*** & 0.0160 \\
 &  & (0.0051) & (0.0051) & (0.0051) & (0.0268) \\
DEPB &  & 0.0105*** & 0.0104*** & 0.0105*** & 0.0162 \\
 &  & (0.0026) & (0.0026) & (0.0026) & (0.0147) \\
REGBAC &  & 0.0096** & 0.0096** & 0.0096** & -0.0149 \\
 &  & (0.0042) & (0.0042) & (0.0042) & (0.0244) \\
SERIEBAC &  & 0.0052*** & 0.0053*** & 0.0052*** & 0.0304*** \\
 &  & (0.0012) & (0.0012) & (0.0012) & (0.0066) \\
DiffDR &  & -0.0000** & -0.0000** & -0.0000** & -0.0000*** \\
 &  & (0.0000) & (0.0000) & (0.0000) & (0.0000) \\
NOFEE &  & 0.0014 & 0.0014 & 0.0014 & -0.0060 \\
 &  & (0.0013) & (0.0013) & (0.0013) & (0.0074) \\
PARI &  & 0.0003 & 0.0002 & 0.0002 & 0.0028 \\
 &  & (0.0011) & (0.0012) & (0.0011) & (0.0065) \\
ZIP &  & 0.0148*** & 0.0149*** & 0.0149*** & 0.0187 \\
 &  & (0.0036) & (0.0036) & (0.0036) & (0.0204) \\
Paris &  & -0.0006 & -0.0006 & -0.0006 & 0.0048 \\
 &  & (0.0011) & (0.0011) & (0.0011) & (0.0065) \\
IDFBAC &  & -0.0058 & -0.0058 & -0.0057 & 0.0303 \\
 &  & (0.0043) & (0.0043) & (0.0043) & (0.0244) \\
PRO1 &  & 0.1351*** & 0.1350*** & 0.1352*** & 0.1601*** \\
 &  & (0.0032) & (0.0032) & (0.0032) & (0.0180) \\
Constant & 0.0147*** & 0.0005 & 0.0002 & 0.0020 & -0.0089 \\
 & (0.0006) & (0.0019) & (0.0019) & (0.0021) & (0.0112) \\
 &  &  &  &  &  \\
Observations & 52,326 & 52,326 & 52,326 & 52,326 & 4,268 \\
R-squared & 0.0290 & 0.0643 & 0.0641 & 0.0643 & 0.1290 \\
IV & No & No & No & No & No \\
Controls & No & Yes & Yes & Yes & Yes \\
Dyadic Group Clustering & Yes & Yes & Yes & Yes & Yes \\
StdErr IV & 0.0186 & 0.0186 & 0.0245 & 0.0197 & 0.0247 \\
\textit{Mean}(Dep. Var.) & 0.0178 & 0.0178 & 0.0178 & 0.0178 & 0.0520 \\
 \textit{Std.Dev.}(Dep. Var.) & 0.132 & 0.132 & 0.132 & 0.132 & 0.222 \\ \hline
\end{tabular}
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